U.S. markets end lower: U.S. markets closed near the lows of the day on Tuesday amid fears of a slowdown in global growth. Investors also braced for the unofficial start of the third-quarter earnings season. The Dow Jones Industrial Average (INDEXDJX:.DJI) slumped 110.12 points, or 0.81 percent, to end at 13,473.53. The S&P 500 (INDEXSP:.INX) declined 14.40 points, or 0.99 percent, to finish at 1,441.48, while the NASDAQ Composite (INDEXNASDAQ:.IXIC) tumbled 47.33 points, or 1.52 percent, to close at 3,065.02.

Oil prices rally: Oil prices rallied on Tuesday amid investor concerns of a supply disruption in a turbulent Middle East. Traders were worried the conflict in Syria may spill over to other countries in the region and disrupt oil supplies. Crude oil for November delivery surged 3.4 percent, to settle at $92.39 a barrel on the New York Mercantile Exchange. Brent oil for November settlement jumped 2.4 percent to $114.53 a barrel on the London-based ICE Futures Europe exchange.

* Yum! Brands, Inc. (NYSE:YUM), the parent company of Pizza Hut and KFC, posted third quarter profit excluding some items of 99 cents per share, 2 cents above the average analysts’ estimate. Revenue for the period came in at $3.14 billion, missing estimates of $3.6 billion. The company raised its full-year earnings forecast, but still fell short of the Street’s view.

* Chevron Corporation (NYSE:CVX) fell 1.7 percent in extended hours trading after it reported in its interim update that third-quarter earnings are expected to be substantially lower than in the second quarter. The oil giant is scheduled to post results on November 2.

* Wells Fargo & Company (NYSE:WFC) ended 2 percent lower after the U.S. government filed a mortgage fraud lawsuit against the biggest U.S. mortgage lender, alleging that the bank failed to follow underwriting rules on thousands of government-insured loans.

* VeriFone Systems Inc (NYSE:PAY) declined as much as 8.5 percent following a Forbes report that rival company Square is on the verge of announcing a partnership with NYC to implement a payment systems in city cabs. Shares of VeriFone, however pared losses to end 8 percent lower, after the New York City Taxi Commission refuted the report.

* Consumer-electronics retailer Best Buy Co., Inc. (NYSE:BBY) said CFO Jim Muehlbauer will leave the company at the end of the 2013 fiscal year.

* Metlife Inc (NYSE:MET), the largest U.S. life insurer, launched an asset management business on Tuesday that will focus on real estate and private-placement debt.

* Chip maker Intersil Corp (NASDAQ:ISIL) slid 4 percent after lowering its third-quarter revenue outlook due to weakness in the global personal computing markets. The company estimated revenue of about $151 million in the third quarter, compared to the average analysts’ estimate of $159.6 million.

* Oil producer Continental Resources, Inc. (NYSE:CLR) jumped 2.8 percent after the company said it plans to triple its production and proven reserves in the next five years.

* Owens Corning (NYSE:OC) plunged 8 percent after lowering its full-year earnings outlook due to weakness in its roofing and composites businesses. The construction and industrial-materials company now expects adjusted earnings before interest and taxes to be between $280 million and $310 million, down from its prior forecast of $360 million to $420 million.

* International Paper Company (NYSE:IP) raised its quarterly dividend to 30 cents a share from 26 cents a share.

* Israel-based electronics equipment maker Orbotech Ltd. (NASDAQ:ORBK) fell 6.7 percent after cutting its full-year revenue outlook for the second time. The company now expects to generate about $400 million in revenue for the year, down from its earlier forecast of between $430 million to $450 million. Analysts were expecting revenue of $434.1 million.

* The Procter & Gamble Company (NYSE:PG) closed 0.6 percent lower after activist investor Bill Ackman, who has been critical of how the company has been run, did not turn up at the company’s annual meeting this morning.

* Entertainment trade newspaper, Variety, is being sold to online publisher Jay Penske and Daniel Loeb’s Third Point LLC for about $25 million, Reuters reported.

* Hedge funds gained 1.26 percent last month, according to industry adviser Hennessee Group, compared to a rise of 2.42 percent in the S&P 500 (INDEXSP:.INX).